Woodbois Ltd (AIM:WBI) (Woodbois Ltd (AIM:WBI)) appointed Federico Tonetti back in November as chief executive officer, replacing Paul Dolan who has now become executive chairman of the company.
Tonetti joins Proactive London to talk about increasing revenues and profits in 2022, but shipping delays mean growth is likely to be lower than previous expectations.
The company recorded its first full-year EBITDAS profit in 2021, compared with a loss of US$1.7mln in the previous year. Gross profit soared 180% to US$3.3mln and gross profit margin more than doubled to 20%.
Revenue rose 15% to US$17.5mln in the year to end-December and surged 50% to US$4.8mln in the fourth quarter.